tv MSNBC Live MSNBC June 24, 2016 7:00am-8:01am PDT
kingdom voted to cut ties with the european union. we want to take you right to our msnbc business correspondent. of course that's olivia sterns on the floor of the new york stock exchange right now. olivia, we're about half an hour into the day. we've seen the market rise up from some of its lows on the day, but this is a volatility that's certainly going to stick around for a while. >> yes, and in fact many of the traders here are expecting their busiest day of trading in two to three years. the truth is that the market was pricing in a vote for england to remain in the european union and that was not what happened. nobody saw this coming and nobody knows what's happening next. that uncertainty is what is really toxic for the markets and for economic growth. right now the dow jones is off by about 400 points. as you say, that is off of session lows. we did hear janet yellen come out earlier this morning, the head of the u.s. central bank, the chair of the fed, and she actually said she is ready to put more liquidity into the
market so that is a sign to investors that the central bank will get your back if there is too much instability out there in the markets. the drop in u.s. markets nowhere nearly as bad as the selloff we've seen in european equities all night. many traders up as tens of billions of dollars in stock market value was just wiped off instantly. you're also seeing a lot of money come back in to u.s. treasuries. you're seeing the yield on the u.s. ten-year down to 1.5% because traders are betting that janet yellen is not going to raise rates any time soon given all this uncertainty and given all this instability. peter. >> let's try to break this down in real simple terms. for americans sitting at home right now watching this with i suspect not a huge amount of understanding exactly what the real impact is on them. obviously 401(k)s will be hit today and obviously the best advice is to let this pass and things shall stabilize over the
course of time. you say it's not going to have a big impact on interest rates in the near term. it also helps the dollar versus the pound right now. what are the real implications for americans as a result of this? >> well, so it does have real implications on interest rates. what is means is that your mortgage is going to stay lower for longer. and for savers, since interest rates are going to be lower, if they have a lot of money in a savings account, it's bad news because they're not going to be making much interest as they have for nearly a decade. it might be a good time to call up your financial advisor, check out if you have any exposure to european equities and see if you own multi nationals, how much business they do in europe and in england. global markets and economies are so interconnected. england, britain is the fifth largest economy in the world. we are expecting to see a sharp contraction in the british economy. so there is going to be clearly
a knock on effect. it's this uncertainty that slows global trade. it's also going to be a drag on economic growth, who is a huge trading partner of the u.s. nobody knows what happens and nobody wants to make investments in that kind of environment and anybody who does have exposure to stocks could easily see several thousand dollars wiped off their 401(k) today. >> singing on the trading floor, perhaps the first sign of delirium after what was a long night for a lot of traders there. olivia, thank you very much for that. this british exit from the eu is certain to be a messy and ugly divorce ending a partnership of more than four decades. but aside from the money, of course, there is also a huge political impact. perhaps none more immediate than this. british prime minister david cameron already announcing his intention to resign. scottish leaders say they'll now push for a bid to break away from the uk in an effort to try to stay part of the european
union. no doubt this outcome was a rebellion, a revolt. immigration was at the center of this vote drawing parallels to the race for the white house right here in the united states. and who happens to be in the uk this morning on business? of course that man, donald trump. >> my opinion is that what happened should have happened and i think they'll end up being stronger for it and they'll control their country and they'll control everything about their country. >> nbc's keir simmons is in london for us. keir, give us a sense of the reaction there. as i've heard you and some of our other colleagues saying today, this really is an earthquake. this shifts the course of history, not just for europe, for britons, but really for the world. >> reporter: that really is the way it looks this morning. i was just listening to olivia sterns. what an irony that the british have voted to cut their connection with much of the
european union and yet what we're seeing as a reaction is just how interconnected the world now is. and there are so many parts to this. it's like someone has pulled a thread of a blanket and it is beginning to unravel. so as a result, you are seeing the british prime minister saying that he is resigning. you are seeing lawmakers in northern ireland and in scotland saying they now want to renew a push for votes for independence for those places. you're seeing the british currency fall, you're seeing stocks fall, you're seeing around europe other political leaders saying that they think there should be votes there too which potentially might mean the unraveling of the european union itself. there are so many different sides to this. as we've been talking about, peter, one of the questions is which side will prevail. and what will now be a battle between those in europe who think the britons should be punished, there should be tough negotiations in order to ensure that other european countries don't loef and those that think that that kind of a trade
dispute would be so damaging for the world economy that actually internationally the european leaders need to find ways forward. >> keir, in simple terms, this was a vote that broke down generationally. help us understand older generations versus younger generations how they viewed this situation so differently. >> reporter: younger generations voted to stay in europe, older generations voted for leave europe. it is a sign of just how divided this country is, that in fact this was still a very close vote. we're not talking about an overwhelming vote in either direction, even though the prime minister emerged and said the vote is the vote. that is the result. we have to go with it. and it wasn't just in terms of generations too, peter, it's in terms of the geography of britain. so london voted 2-1 in favor to stay inside europe. scotland voted to stay inside europe, which is why you're now seeing scottish lawmakers saying maybe it's time for us to leave
brin britain and stay part of europe. here in london there is a sense of shock, not least because, of course, many londoners depend on the city of london, the biggest financial center in europe, and there are real question marks now about how the city of london will move forward as britain unravels itself from this huge trading partner. peter. >> keir, david cameron today at times nearly in tears announcing his intention to step down, as you have been reporting over the course of this day. there are obviously a lot of americans who will see parallels between what's happening there and the presidential election campaign here in the u.s. one of the greatest parallels is that the likely captain of the ship going forward, the perhaps prime minister, boris johnson, the former mayor of london. a man even to the hair who has similarities to donald trump. how do you capture for americans the similarities to the debate there and the one that we're witnessing here? >> reporter: well, i think a similarity is this.
what you have seen is a groundswell of public opinion, of populism, if you like, of people saying we are fed up with this. we don't like being told what to do by people that we think are too far away from us in brussels. we want our independence back. we want our power back, if you like. there is this malaise, this unhappiness with the political class that has spread across the west, and you are seeing politicians step up. boris johnson is an example of that and say, well, okay, i'm the nonpolitician politician. i'm the guy next door. i'm the guy, as we would put it here, that you can have a pint in the pub with. those kind of politicians are the ones the public is turning to. what we're going to find out now is what happened when the public votes for those politicians' policies, do they like what they get. >> keir simmons on really what is a historic day in the united kingdom. we'll see how long it remains
united. thank you so much. we do want to share with our audience we have just been getting. this is the statement from president obama on this day. he's traveling out in california holding a summit where he will be with mark zuckerberg at facebook, among others. the president writing the people of the united kingdom have spoken and we respect their decision. the special relationship between the u.s. and the uk is enduring and the united kingdom's membership in nato remains a vital cornerstone of u.s. foreign, security and economic policy. so too is our relationship with the european union, which has done so much to promote stability, stimulate economic growth and foster the spread of democratic values and ideals across the continent and beyond. the united kingdom and european union will remain indispensable partners of the united states even as they begin negotiating their ongoing relationship to continue security across
northern ireland, britain and the world. that arriving on our desk just a short time ago. vice president joe biden weighing in from dublin, ireland, this morning. here's the vice president. >> i must say we were -- we had looked for a different outcome. we preferred a different outcome. but as the united states having a long standing friendship with the united kingdom, one of the world's great democracies, we fully respect the decision they have made. >> hillary clinton, by the way, just responding to the brexit vote as well. her statement reads in part, we respect the choice the people of the united kingdom have made. our first task has to be to make sure that the economic uncertainty created boy these events does not hurt working families here in america. this time of uncertainty, she adds, only underscores the need for calm, steady, experienced leadership in the white house to protect americans' pocketbooks and livelihoods, to support our friends and allies, to stand up to our adversaries and to defend
our interests. this comes as senator bernie sanders, who has not yet conceded or in fact endorsed clinton made what really was a surprising statement just a short time ago right here on msnbc. joining me now with more on that is nbc's kristen welker. kristen, good to be here with you right now. just last night sanders was on one of the late night talk shows and was asked if he wanted to endorse clinton and he said no. >> he hasn't endorsed secretary clinton yet as you rightfully point out, he is still very much in this race. but today for the very first time he seemed to acknowledge that she is the nominee, that she's going to be the official nominee once the convention gets under way and he said he's going to vote for her. take a listen to what he had to say. >> are you going to vote for hillary clinton in november? >> yes. i think the issue right here is i'm going to do everything i can to defeat donald trump. >> senator, if you've accepted the arithmetic of the race and realize that she's likely to become the nominee, why not withdraw from the race. >> why would i want to do that
when i want to fight to make sure that we have the best platform that we possibly can. >> so, peter, i think a lot of people are confused. if he's going to vote for secretary clinton, why is he still in this race. you heard him say that he wants to fight for the platform. and that's what's happening right now. there are ongoing conversations between the sanders campaign and the clinton campaign about what the platform is going to look like and of course he has all of these other demands that he would like to see happen. he wants to see superdelegates go away, he wants the dnc chair, debbie wasserman schultz, to be replaced, so those are some of the things being hashed out. based on my conversations with sanders campaign officials, they want him to be able to say they end of the day that he won something here, to be able to bring something to his supporters and then he'll concede. but ed rendell, for example, has been very adamant. he's not going to be able to speak at the convention unless he concedes. we know that's something that's important to senator sanders. he has two events in new york today. secretary clinton has completely
pivoted to the general election. >> in a way i think this is a significant day because a lot of democrats are saying to bernie sanders and hillary clinton, hey, guys, watch what we're witnessing in europe right now. there may be a hidden vote out there, something the polls don't capture, something the mainstream media and the political elites aren't talking about and their fair is if they can't unify quickly and capture some of that energy, they may be swept up boy a donald trump victory this fall. >> and senator sanders did represent some of that momentum. today on "morning joe" he said, look, this is an indication that the world economy isn't working for everyone. that's the platform that he ran on. he didn't weigh in, though, on this vote, which was very notable and very interesting. but i think that this underscores the political currents that have swept across the world and swept across the united states. secretary clinton well aware of that and that's why someone like senator elizabeth warren will be so pivotal for him. by the way, senator sanders, if and when he does concede, the
clinton really turning to him to try to energize some of those voters. >> this has just been a huge week in washington and around the world. thanks so much. >> thanks. coming up now or next, more reaction this morning from the campaign trail today. we've also heard from donald trump. he is traveling in scotland. there was his unique landing by helicopter, praising the brexit vote in an unusual news conference. did you see it? we'll gather of some of the moments you missed. first a look again at the markets, where they stand. you can see now down about 350 points shortly after the day's opening. we'll be right back. ♪ ♪ ♪ geico motorcycle, great rates for great rides.
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have to take. >> that was donald trump in scotland this morning reacting to the brexit vote, alluding the concerns about immigration that fueled the leave campaign in the uk but had a major moment of global importance, he also pivoted to the initial intention of this visit, which is his new hotel and golf course. >> having taken this hotel and done the job that we've done with it is just an honor that i was given the opportunity. i know if you'll get the chance but if you do, you should try to get to see the suites because they are two of the most beautiful suites you'll ever see. we haven't had one empty slot, from morning to night, it's packed. so it's a special location. i don't know, it's just the location. whether it's from london or wherever they want to be, they all want to come to turnberry. >> joining us now from scotland is nbc's katy tur. katy, i'm not going to ask if you've seen the suites there at the property, you've barely been
there long enough for anything more than the news conference, but this was a wide-ranging set of remarks by mr. trump. how do you think his visit is being received? what's striking is he's in scotland praising brexit. scotland, of course, a place that opposed it. >> reporter: scotland voted overwhelmingly to stay in the european union, and consequently there is some talk right now that they're going to have another scottish referendum to leave the uk and rejoin the eu potentially. donald trump was asked what he thought about that and he said it's up to the voters. he would not say one way or another. to put it into context this morning, it was a surreal press conference. as the markets were dropping overseas, as this country was reeling from this uk leaving the eu, as there was fears mounting of a global recession, donald trump spent a good ten minutes talking about his scottish golf properties. when reporters were able to ask
him questions, they asked him about brexit. he praised british voters for taking back their country. they asked him what he thought about the economic implications of this. after all, the pound has been severely devalued, at its worst level since the '80s, and he said it's not necessarily a bad thing for the pound to drop in value because my residents or my resort here at turnberry is going to be doing better. that not necessarily something that will be well received in the uk. maybe not well received in the u.s. as well, as people start to learn that their 401(k)s are tied to banks that have european exposure. >> katy, in particular, was there anything that struck you in this news conference? i know you travel with him a lot. obviously the fact that he didn't come out and have some statesman-like comment was striking, but also his comments about president obama and hillary clinton i thought were kind of striking as he's been
critical of the president so many times saying he shouldn't be attacking a politician, himself, when the president was overseas, that that should end at the water's edge, but donald trump in effect did that today. >> reporter: yeah. he was asked -- the standard has always been that politics stops at the water's edge. you don't criticize your own leaders when you are overseas, when you are abroad. donald trump has never been a traditional candidate so there should have been no real expectation that he would have abided by that rule, but today in turnberry he said hillary clinton only said she was not for brex it because president obama did and she does everything he does. so the ole tried and true rules of political discourse once again proving not to apply to donald trump. >> i hope you enjoy some of that view, spectacular site you're at today. the uk decision to bail out of the eu will also have serious implications on international
and u.s. security. nbc's ayman mohyeldin covering that angle for us right now. i'm glad you're with us at this moment. give us a sense of how this impacts counterterror operations and intelligence gathering. in many ways this vote was a response to the refugee crisis and real fears about what's been happening across that region. >> yeah, there's no doubt. certainly those making the case for the united kingdom to leave the european union used the images of refugees to strike up that fear. but you raised a good question, counterterrorism. there's two ways to look at it. in the short term, not much is going to change. this is probably going to play out over the course of the next two years. in the course of those two years, you can expect that the united kingdom will now have to start negotiating with the european union about some of these counterterrorism and intelligence sharing issues. the european union has a robust sharing program between all of the 27 members, now 28 members,
about intelligence, counterterrorism. there's euro poll that shares that information. what's going to happen in the course of the next two years is as these countries begin to negotiate, it's going to be an issue of whether or not there is a desire to have the same integration intelligence sharing or not. the united kingdom as we heard president obama say is still going to be a cornerstone of nato, but there are going to be a lot of bumpy steps along the road as these two blocs of security and pillar of national security begin to separate from one another. >> even as we have conversations about a potential reset with russia, you have to imagine that russia and vladimir putin are paying very close attention to today. they are a beneficiary of this. >> russia looks at western europe as a whole, the european union and united kingdom. they're going to see some fault loins there and that's something that russia will be able to exploit to its own advantage. keep in mind as russia deals with the european union, that
usually tends to be under the umbrella of nato. that's what russia has been concerned about. so nato is still very much intact. that's not necessarily going to change. the security posture of the western european countries. but on issues of counterterrorism, the fact russia can see this fault loin, that's something russia will also be concerned about, whether or not there's enough cooperation that could impede its own security instability. >> ayman, good to visit with you. thanks, my friend. we're live in west virginia, another major story we're watching closer to home. dangerous and deadly flooding. look at these pictures. they have trapped more than 500 people at a mall alone. we'll take you there, have a live report coming up. first a look at the markets that we keep watching. right now the dow down about 400 points at the hour upon news that the uk is leaving the eu. you're watching live developing coverage right here on msnbc. there are two billion people
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a fast-moving situation in parts of west virginia this morning. look at these pictures today. flash flooding washing streets away, causing states of emergency in 44 counties there. we are told that an 8-year-old boy has died and a toddler was swept away in the floodwaters. some of the video witnesses captured with their phones is just remarkable. this more than any, a house you see there floating down a rain-swollen street while burning. nbc's morgan radford is joining us from white sulphur springs. we're told about 500 people are trapped inside a mall just outside of charleston. what can you tell us about the situation there and if they're getting the help that they need right now? >> peter, authorities are really still trying to figure out just how to get to them. in fact, they're thinking of creating a temporary bridge just to reach them inside. but before that i want to show you some of the damage now that the rain has briefly stopped. you can see where power lines
have completely been ripped down. an entire chunk of the road behind me is missing and these waters are just racing past. these waters that we now know have claimed four lives, including one who you mentioned was an 8-year-old boy and he was playing in water that was only a foot high, peter. this was moving so quickly that even though his parents could see him, he was swept away. they later found his body and pronounced him dead at the hospital. meanwhile there's also a toddler who is missing. we're talking to people who have also lost their electricity, lost running water, even lost their homes. take a listen to one man i found just a mile up the road. >> where is your house now? >> i have no idea. >> you don't know where your house is? >> no. i've been finding parts of it as i've been searching down the road. actually some of it's right there, but i haven't been able to find the upstairs portion of it yet. >> you haven't found the roof of your home? >> hmm-mm, not at all. it's gone. i've never seen anything like this. i've lived around here by entire life. i've never seen anything to this
level. >> reporter: peter, these are the kinds of gut-wrenching stories we're hearing here. in fact that man, i was with him when he was identifying pieces of his home that were floating along the river. we were even with him when he spotted his bicycle that was twisted under a hunk of metal while cars were in the background completely flipped over. meanwhile, the red cross has set up shelters all throughout the state to help these displaced residents. again, those who don't have food, water, electricity or any running water in their homes, if their homes are even left, peter. >> that is a remarkable conversation and the pictures are still just stunning. we wish the best to everybody in that community. i'll let you get out and do some reporting right now. thank you very much. we're watching wall street and we're joined by ron insana. we can see the dow dropping just shy of 400 points. olivia, what is the reaction and the thinking there on the floor?
>> reporter: the thinking is that perhaps we hope we have hit a floor here. the dow jones now down by about 370 points. at its worst the dow was off by 530 points which was the steepest drop in ten months, so you're looking at all the major averages down now by about 2%. while that is a big move, that's back to where the stock market was about a week ago when polls showed britain was likely to leave the union. we have peter costa with us of empire executions, a trader down here for just a little while. what's the fear factor down here right now? how nervous are people? >> i think originally people were a lot more nervous. after seeing the market rally after the opening, i think that pretty much calmed a lot of people down. i think this is something that's going to be a little bit longer term. i don't think this is just a day event. i think this is a month-long process, might be even a year-long process where we'll be digging through the aftermath of what happened yesterday.
>> reporter: so the market is at 17,500, do you think this is a floor or continued uncertainty with what's going to happen with the british economy and european economy will continue to weigh on the u.s. markets? >> i think there will be -- sometimes there will be -- we'll have periods of weakness, but i think what you saw in the opening is the biggest move we're going to see in a while unless something else comes out that's more detrimental to the u.s. equity markets. i don't think you're going to have anything significant after this. >> reporter: so wall street was clearly betting britain would remain in the european union. how do you think they got it wrong? >> they listened to the polls. >> reporter: but traders, the bets on wall street were out of whack with the polls actually. investors were more confident britain would stay than pollsters were. >> absolutely. you know, when you're in wall street, you're looking at the heads of companies telling you that we want this to happen in a certain way. what ended up happening is they
got it wrong. so a lot of big companies, you know, in england and the u.s. felt that this was going to be -- you know, it was going to be a positive vote and they were wrong. so traders bet that it was going to end up being a positive vote and it wasn't. >> peter, thank you so much. peter costa with empire executions. all in all, most traders down here saying it's going to shape up to be one of the busiest days of trading in two to three years. back to you, peter. >> olivia, thanks. ron, i want to get to you for a second. i know you've witnessed too many blood baths, i suspect, over the course of your career on wall street. can you kind of capture this moment for us and give us a sense in real terms for americans who are confused by the international implications of a day like this exactly what the real-term impact is going to be on americans and the fact that going forward there will be other countries in europe that look to leave the eu as well. >> i think that latter piece of information is the most pertinent insofar as if the fears of investors today were
taken to their ultimate and maybe even illogical conclusion, it would lead them to believe that the european union will ultimately dissolve this experiment with a single currency will fail and we'll go back to old borders, old economic times. we'll go back to individual central banks, individual currencies. >> so how does that affect average americans? why do americans care if it breaks up europe across the board? >> to the extent that this type of instability in financial markets leads to a deep recession in europe, maybe in the united kingdom as well that, restrains economic growth in the united states, something that janet yellen, the chair of the federal reserve, spoke about before congress earlier this week. it's possible that headwinds from overseas could keep the u.s. economy from growing to its potential. it also means the fed is not raising rates any time soon as well. >> we've heard many u.s. employers, jpmorgan chase, ford as well had warned of potential layoffs if this were to happen as it has, brexit being
approved. is there any indication right now that workers in the u.s. would be impacted in any type of similar way? >> no. this is really specific to the economic and trade treaties that have been struck as part of being in the european union. membership has its privileges, and now that the european union will see the exit of the united kingdom, those privileges may be revoked so easier trade terms, no tariffs. easy for a british company to open up offices on the continent. some of that is going to be unwound over the course of the next two years as this exit is negotiated. ceos don't wait until two years from now to start pulling back, knowing what the potential outcome is, so they have to make moves and that's going to affect employment in europe, which could deepen the slowdown in their economy that already exists and, again, you create that negative feedback loop that comes here and slows our own
economy that could cost jobs. >> olivia, i was stopped by a colleague and they're looking forward to purchase -- i'm going to ask you this question to you, ron. but a colleague was just asking me, they're looking to purchase their first home right now. i'm going to use your expertise to answer that question. in terms of interest rates and things like that, there's potential good news for people, the rates will stay low and potentially for sellers, prices may rise because money is easier to get. >> the yield on the ten-year treasury note is at about 1.5%. if you're locking in on a mortgage, go ahead and do it. this is the cheapest money we have seen in quite some time. if the 10-year treasury note breaks below 1.5%, that will be a record low yield, making mortgages that much cheaper. >> note to those looking to refinance, make a phone call today. ron insana, thank you very much.
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scale on demand with the number one company in cloud infrastructure. back now with more of our continuing breaking news coverage right here on msnbc on the bombshell today, the vote by britain to bail on the european union. we're joined now by nbc chief global correspondent bill neely standing by today for us in london. bill, give us a sense about what you're hearing on the streets of that city right now after what really is one of the most dramatic days in that country's last several decades. >> reporter: well, peter, you used the word "bombshell" and that's what people certainly in this immediate area, this is the heart of political britain, are feeling. a few hours ago i talked to someone at the metro station who said she turned on the radio, heard the news and immediately
burst out crying. in many, many areas of britain, most areas indeed they will be celebrating because their voice has been heard. this is, as one of the victors said, their independence day. but it is a huge shock, the biggest political shock in britain for at least half a century. the shock waves are being felt across the great capitals of europe, in paris, berlin and rome. to that end the french prime minister said a few hours ago this is an explosive shock. at stake is the breakup, pure and simple, of the european union. and europe's most powerful politician, the german chancellor, angela merkel, a little bit more sober, but she said i greatly regret the uk's decision. we need to stay calm and composed. they certainly do, because even before this vote, you know, europe was in some trouble. financial crisis, euro crisis, migrant crisis, and now they have got brexit, which is arguably the biggest crisis of all. and to that end, the european
president, i'm paraphrasing him, basically said we don't need this uncertainty and we will fast track britain's exit. it's a political issue, it's also an economic issue. imagine, peter, california and florida seceding from the union. economically that would immediately slice, well, a fifth of the gdp off the united states. that's the effect, for example, of britain, which is the world's fifth biggest economy and has the sixth biggest output in the european union. so this is a financial shock, diplomatic shock, economic shock, it's an earthquake. >> this day already challenging that famous british wisdom, keep calm and carry on. tough for a lot of brits to do it on this day. i want to get to christopher dickey. i appreciate you being with us on this day. notable that you're in paris here. i guess my first question to you is about the reaction not just from france but from across the
eu countries, as it were, on this day, the far right parties feeling invigorated in effect. >> absolutely. i mean the issue of europe, as they say, the european union, has been one that's been adopted by these far right parties that used to be known by xenophobia, racism and they have pushed that behind them and said the real problem is the european you know inand it's onerous bureaucracy and this sense that you don't have any independence or freedom of movement. all of which are real problems. but these parties identify these problems and then identify the threat of immigration, the threat of the migrant crisis we've seen over the last two and a half, three years developing here. all of that comes together so that now that here in france, in netherlands, they are all saying
we should do what britain did, have a referendum and maybe we can, as they were saying, maybe we can destroy the european union. that would be a real feather in their cap and it fits right into their national ideologies. >> christopher, on a day like this, so many americans who get lost in what can be a very complicated situation taking place overseas will certainly see the similarities, though, with the conversation taking place here in the u.s. during the 2016 presidential campaign. of course there are significant differences. the population in britain that now voted to leave the eu is about 80% plus white. here in the united states, the number about 63% or so americans who are nonhispanic white. so there's a much larger minority population, as it were, in this country. nonetheless, the similarities are striking when you talk about the driving issues, the issues of immigration and trade.
>> it's about building walls, let's just make it simple. britain wants to wall itself off from europe except when it wants to make money trading with europe and the nationalist parties, netherlands, france, elsewhere, they're all about building borders again, building walls, getting rid of the unified currency, getting rid of the agreement that allows free movement of people throughout the european union. all of that sounds very similar to the people we hear talking about building walls in the united states and all of it is driven by concern over migrants, people who are outsiders, people who will change the character of the country as the current residents see it. no, there are a lot of very key similarities. >> christopher dickey, our resident expert on all things europe on a historic day for that content. chris, thanks very much, nice to see you. up next, a look at wildfires raging across the west. dozens of homes destroyed, hundreds more still in the
danger zone. we're going to have the latest on that. first, though, a look again at the markets. we keep watching them this morning. the dow, as we speak right now, down just shy of 400 points. the s&p down 50 points as well. we're back right here next on msnbc. or across the globe in under an hour. whole communities are living on mars and solar satellites provide earth with unlimited clean power. in less than a century, boeing took the world from seaplanes to space planes, across the universe and beyond. and if you thought that was amazing, you just wait. ♪ hmmmmm....... [ "dreams" by beck ] hmmmmm...
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still burning. those fires, it's gone from a wildfire in this neighborhood particularly a wildfire to spot fires. most of these spot fires are actually from natural gas that is burning from inside of what was once people's homes. you've got natural gas spewing out of these lines. when it's not spewing out of these lines, you can smell it in the air. a very quiet scene, eerie scene. quite a bit of loss. what you're looking at is pictures from people's yearbook of that been burned and they're just blowing out here on the streets. this type of stuff is the type of stuff that a lot of people have lost out here and it's just -- it's really indescribable. but we're going to try to put those 100 homes in context, 100 structures into context. visually if we just look down here, you see this is five or six of those structures that have been lost and this
neighborhood has about 60 or 70 homes and structures that we've seen. there are four different neighborhoods that have been affected. it's burning up in the hills and here in california when the winds pick up, these winds move extremely quickly. all across california there are firefighters heading to this fire right now. it has the highest priority and structure protection will be the name of the game but it may come too late, as we saw last night. >> all those pictures just within the last couple of days marked the start of summer. it's going to be a long one out west. thank you for that report. coming up here, more reaction from world leaders. what country could be next to take a vote to leave the european union? every day you read headlines about businesses being hacked and intellectual property being stolen. that is cyber-crime.
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with today's news of britain's vote to leave the eu, the question many are asking is whether other countries in europe will follow suit. msnbc's cal perry is here now to help explain who's sort of up to bat. who's in the on-deck circle and could be next to follow britain's lead here. >> you've got your fresh map of the european union minus the united kingdom. i want you to pay attention to italy, france, germany here and spain as well. i'm going to explain why. on the heels of what chris dickey was talking about, specifically the migrant crisis. here's that they were playing on. here are the asylum numbers from the past year. germany, 600,000. you've got in places like italy, 85,000. compare that to the uk, only 37,000. that's why it looks like these countries in green may be next. the last thing i want to show you, peter, this is where people
are coming ashore and it's very indicative, again, of people that may be leaving the european union next. you've had over 150,000 people come ashore in just the past six months here and over 50,000 come ashore here. an indication of what's to come. >> those data points are a pretty good predictor of what we may be seeing ahead. much more ahead on "msnbc live." we'll be right back. defiance is in our bones. our citracal bones. easily absorbed calcium plus vitamin d.
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that's going to wrap up this hour of "msnbc live." my friends and colleague craig melvin picks up our coverage right now. a good friday to you. i'm craig melvin at msnbc headquarters here in new york. we start with a global fallout and monumental turmoil in the wake of britain's decision to leave the european union. that vote, 52% to 48% in favor of leaving is creating uncertainty worldwide in terms of what happens next. the economic indications became
apparent as soon as the markets opened here in the united states, roughly 90 minutes ago. the stock markets plunged. all key indices are down. investors are taking huge hits. if you have a 401(k) or another account tied to the markets, that likely includes you as well. right now the dow down roughly 400 points, 417. it had been down more than 500. the nasdaq down just over 100, the s&p 500 down about 50. the fallout in britain was immediate. prime minister david cameron announcing that he will be stepping down by october. >> i was absolutely clear about my belief that britain is stronger, safer and better off inside the european union. i will do everything i can as prime minister to steady the ship over the coming weeks and months, but i do not think it would be right for me to try to be the captain that steers our country to its next